GBPUSD Daily Forecast Nov 27 2014

Outlook in GBPUSD has turned neutral at the moment , the pair remains in recovery mode as long as support 1.5720 holds on a daily closing basis , next resistance comes at the 1.5775/1.5823 levels , a halt is likely , but a breach will extend recovery towards main resistance at the 1.5945 levels before the next fall, however ; a clear break above the 1.5945 levels will turn outlook bullish towards the 1.6085/1.6183 levels.

On the downside , support comes at the 1.5720 levels , losing this level on a daily closing basis is needed to restore the downside momentum , If seen , focus will be on the 1.5630/15589 levels , a cut will open 1.5500 next..

In all , as long as support 1.5720 holds on a daily closing basis , the GBPUSD remains in recovery mode with risk towards the 1.5825 levels ahead of the 1.5945 levels, below 1.5720 could mean a return to the 1.5630/1.5589 levels..

 

GBPUSD Daily Forecast Nov 27 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS